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5/25/20
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We’ve learned of an opportunity to acquire a unique, 1.5-acre coastal vineyard estate with a storied past in the SoCal community of Pacific Palisades. The property is perched on a crest overlooking Las Pulgas Canyon and the Pacific Ocean.
The property, located at 560-620 N. Marquette St, is home to the award-winning wine label Paliscolo Sangiovese. This generational estate currently comprises one of the largest developable residential lots south of Sunset Blvd, with eight contiguous lots each entitled for ocean-view single-family homes.
The assemblage of property includes a restored mid-century ranch house, charming guest cottage and adjacent mid-century modern post and beam single family home; a stunning saltwater pool and spa with waterfall feature and koi pond with running creek; an outdoor kitchen with fireplace and pizza oven; a wine making portico, magnificent above-ground custom wine cellar and tasting room; a retaining wall at the foot of the property stretching 400’ across and 12’ high; and a working vineyard, fruit orchards and a raised vegetable garden.
“Ideally located in one of Pacific Palisades’ most stunning locations, this gated estate has been 100 years in the making, and now offers a broad range of opportunity for custom home builders, land investors and owners alike,” said Andrew Levant, Executive Vice President in Kennedy Wilson’s Real Estate Sales and Marketing Group. “At a time when outdoor space and privacy are increasingly in demand, this piece of land and the adjacent working vineyard provide a unique opportunity.”
Equidistant between downtown Pacific Palisades and Sunset Beach, the estate is surrounded by more than ten highly acclaimed public and private schools in one of Southern California’s most esteemed neighborhoods. Just a short stroll via a canyon path to the ocean, the property is minutes from several hiking trails, bike paths and 1.5 miles to Palisades Village.
After a four-year entitlement pursuit, architect and winemaker Cosimo Pizzulli’s estate now has approvals to build ocean-view homes along eight contiguous lots totaling 64.5k sf. The eight lots were originally recorded in 1926, and then were purchased in the 1930’s by one owner who first constructed a cottage on the site that remains in place today. In 1945, the previous owner built a California Ranch House that has since been restored by the current owner and in the 1950’s, a mid-century post and beam home was constructed on one of the parcels. In the early 2000’s, the current owner planted a vineyard on the slope of the property and has been producing an award-winning private label wine onsite ever since, known as Paliscolo Sangiovese.
The approvals for the new homes allow for maximum flexibility, enabling the buyer to keep the best of what currently exists, build a new estate home on four or more lots and sell the rest.
“The new homes were designed to feel like a Norman Rockwell painting of the quintessential American home, with a front porch, rear yards, decks and a view of the Pacific Palisades landscape,” said owner Cossimo Pizzulli, founder of Paliscolo Sangiovese.
Interested? All bids are due June 25, 2020 and must exceed a minimum of $8 mil. For more information, go to www.560Marquettestreet.com or contact Andrew Levant at alevant@kennedywilson.com.
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